The best term life insurance for seniors help can help cover funeral expenses and other final expenses when they pass away. If you have put off buying coverage and are now getting up in years, you might be worried that you have waited for too long. It’s not too late to find coverage, but for best results, you’re probably going to want to shop around and compare different plans online so that you can find the right option for you. Luckily, this is something we can help with.
The first step that you’re going to need to take when buying life insurance as a senior is to determine the type of plan that you want. For many younger adults, term life insurance policies are a popular choice. This is because they often have higher face values. The way that term life insurance for seniors works is that you purchase coverage for a certain number of years, such as a 20-year term. Then, you make monthly premium payments. If you pass away during the 20-year term, your beneficiary will be paid the face value of the policy. After the 20-year period, you will need to sign up for another plan if you still want coverage.
Unfortunately, even though term life policies can be a good choice for younger adults, they often aren’t a good option for the elderly. If you are a senior over 60 or over 70, there is a chance that you might have some minor health issues, even if you are in overall good health. The problem with many of these policies is that the underwriting is often very strict. You might have to undergo a medical exam, where things like your height, weight, and health will be considered. If you don’t “pass” the medical exam, you could be turned down for coverage, and you might be surprised by the things that you can get turned down for, such as high blood pressure. Even if you do get approved, you might find that your monthly premiums are incredibly high as a senior citizen. The best term life insurance for seniors is often not a very cheap choice if it’s an option at all.
Even though term life insurance for seniors is often not a very good choice, you do still have options. If you have found that you can’t get approved for level term life insurance as a senior, or if you would like to keep your premiums down, you can look into a small whole life insurance option, which is often called burial insurance. These are a few reasons why this can be a great option with the best rates for seniors:
As you can see, as a senior who is looking for term life insurance, you do have options. Even though you might want to get a few quotes for senior term life insurance to see what is out there, you may want to consider burial insurance or universal life insurance option instead. When you look into life insurance quotes, you can find the best life insurance option for you or your loved ones. There are truly affordable life insurance options with affordable life insurance premiums for just about anyone, whether you're 60 years old or 80 years old. We are a life insurance agency that is licensed to sell burial and the best term life insurance for seniors and other types of life insurance policies in multiple states. We have put together an online quote engine, so if you’d like to see what your options are and get started today, you can do so by entering your ZIP code. We are sure that you will find a senior life insurance option that is right for you, right here on our website, from a top-rated provider with high A.M. Best ratings, such as Mutual of Omaha. You can rely on our licensed insurance agents to help you find a policy with level premiums and good coverage, and we will even help you with the application process to make it that much easier for you.